The work generally consists of minor demolition and reroofing of the building followed by general clean-up of the area. Bids must be accompanied by a Bid Bond made payable to the COLUMBIA COUNTY SCHOOL DISTRICT in the amount not less than ten percent (10%) of the lump sum bid for the complete work; such Bid Bond representing that the Bidder, if awarded the contract, will promptly enter into contract agreement and furnish a Performance Bond and Payment Bond, as provided by law and approved by the Attorney for the COLUMBIA COUNTY SCHOOL DISTRICT. Each bond shall be equal to one hundred percent (100%) of the contract amount. The Bid Bond will be forfeited to the COLUMBIA COUNTY SCHOOL DISTRICT as liquidated damages if the Bidder fails to execute the contract and provide Performance and Payment Bonds within ten (10) days after being notified that he has been awarded the contract. Certified checks or letters of credit are not acceptable. A surety company licensed to do business in the State of Georgia and listed in the Department of the Treasury Circular 570, latest edition, must execute bonds. The surety company shall have an A. M. Best Company rating of "AAA" with a financial size of IV (4) or better. Bonds must be accompanied by a letter stating bonding company's current rating for verification prior to acceptance by the Owner and execution of the formal Owner/Contractor Agreement. Contractor and Subcontractor shall require the Attorney-in-Fact who executes bonds on behalf of sureties to attach a certified copy of his Power of Attorney The Owner reserves the right to award the project on whatever basis is in the interest of the Owner and to accept or to reject any or all bids and to waive technicalities and informalities. ALL WORK SHALL BE COMPLETED WITHIN 60 CALENDAR DAYS OF NOTICE TO PROCEED.
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